Saturday 31 October 2026 Export TOL’s income statement to Excel — free account

Toll Brothers Inc.

TOL Consumer Cyclical Residential Construction

Toll Brothers Inc.’s revenue for fiscal 2025 (year ended October 2025) was $11.0 billion, up 1.11% from fiscal 2024. In the quarter to July 2026, revenue fell 9.72%, EPS fell 20.7%, free cash flow fell 36.3% and total debt fell 6.02%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.

145.95 1.68 +1.16%

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Market cap: $13.3B
P/E: 11.7×
Fwd P/E: 11.5×
Dividend yield: 0.70%
F-score: 4/9
Altman Z: 4.06
Beneish M: −2.35
Dividend safety: 92/100

Overview Business Profile Financial Analysis

Insider Decisions trades per month

Total sells 26.05

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	1	2	1	1	—	2	—	—	1	—

Insider Ownership 2.70%

Capital & Financial Ratios $m

Market Cap 13,290.00

Revenue 10,759.04

Net Income 1,198.38

Free Cash Flow 1,090.23

Net Debt 1,707.59

Current Ratio 4.53

Debt/Equity 0.32

P/E ratio 11.68

Fwd P/E 11.50

P/S ratio 1.28

P/B ratio 1.61

Past 5Y EPS Growth 31.74%

This Y EPS Growth (5.76%)

Next Y EPS Growth 7.55%

Next Y revenue growth (1.16%)

Next 5Y EPS Growth 4.43%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 68.56%

10-year low 10-year high

P/S against its own 10 years 89.64%

10-year low 10-year high

P/B against its own 10 years 79.91%

10-year low 10-year high

EV/Sales against its own 10 years 68.16%

10-year low 10-year high

EV/FCF against its own 10 years 54.19%

10-year low 10-year high

Dividends

Payout Ratio 0.08

Annual Dividend Rate 1.03

Annual Dividend Yield 0.70%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.03	0.25 0.26 0.26 0.26
2025	0.98	0.23 0.25 0.25 0.25
2024	0.90	0.21 0.23 0.23 0.23
2023	0.83	0.20 0.21 0.21 0.21
2022	0.77	0.17 0.20 0.20 0.20
2021	0.62	0.11 0.17 0.17 0.17
2020	0.44	0.11 0.11 0.11 0.11
2019	0.44	0.11 0.11 0.11 0.11
2018	0.41	0.08 0.11 0.11 0.11
2017	0.24	0.08 0.08 0.08

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	1,300	1,303	1,259	1,058
Receivables	691	591	555	539
Inventory	9,058	9,713	10,678	11,646
Other	—	—	—	—
	11,049	11,607	12,492	13,242

	2023	2024	2025	Q'26
Payables	598	492	616	589
ST’ Debt	—	—	—	—
Other	—	—	—	—
	2,313	2,360	2,855	2,921

Compound Annual Growth %

	10y	5y	3y
Sales	10.15%	9.15%	2.19%
Cash Flow	33.87%	1.99%	4.07%
Earnings	14.00%	24.70%	1.53%
Book Value	6.96%	10.95%	11.23%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 2.90 Actual 2.97

1.62 2.55 3.47 4.39 5.32

Q4 FY25 Miss −0.29

Q1 FY26 Beat +0.14

Q2 FY26 Beat +0.14

Q3 FY26 Beat +0.07

Q4 FY26 — Dec 14

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Q4 FY25	4.87	4.58	Miss by 0.29
Q1 FY26	2.05	2.19	Beat by 0.14
Q2 FY26	2.58	2.72	Beat by 0.14
Q3 FY26	2.90	2.97	Beat by 0.07
Q4 FY26	4.89	—	Reports 14 December 2026

EPS $

	Jan	Apr	Jul	Oct	Year
’26	2.19	2.72	2.97	—	—
’25	1.75	3.50	3.73	4.58	13.49
’24	2.25	4.55	3.60	4.63	15.01
’23	1.70	2.85	3.73	4.11	12.36
’22	1.24	1.85	2.35	5.63	10.90
’21	0.76	1.01	1.87	3.02	6.63
’20	0.41	0.59	0.90	1.55	3.40

Fiscal quarters ending in the months shown.

Revenue $m

	Jan	Apr	Jul	Oct	Year
’26	2,146	2,531	2,659	—	—
’25	1,859	2,739	2,945	3,423	10,967
’24	1,948	2,837	2,728	3,333	10,847
’23	1,780	2,507	2,688	3,020	9,995
’22	1,791	2,278	2,495	3,712	10,276
’21	1,563	1,930	2,255	3,041	8,790
’20	1,331	1,549	1,651	2,546	7,078

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Jan	Apr	Jul	Oct	Year
’26	7	134	250	—	—
’25	(421)	363	370	800	1,112
’24	(307)	459	176	683	1,010
’23	(358)	503	529	591	1,266
’22	(281)	76	(42)	1,233	987
’21	55	(28)	421	855	1,303
’20	(366)	175	333	867	1,008

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Jan	Apr	Jul	Oct	Year
’26	(12)	110	220	—	—
’25	(438)	347	345	772	1,026
’24	(321)	443	150	665	938
’23	(368)	484	515	590	1,220
’22	(299)	55	(31)	1,218	943
’21	120	(42)	405	834	1,317
’20	(393)	167	308	832	914

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	Trend	10 yrs	2026e	2027e	2028e	Next 3/yr
												Ten-year view		Analyst estimates Powerpack
Price, $
Price, $	Low	23.75	30.45	28.68	32.30	13.28	41.22	39.53	49.87	95.46	86.67		+15.5%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	High	33.48	51.08	52.73	41.70	50.42	75.61	72.75	105.91	169.52	149.79		+18.1%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
People
People	Employees	4,200	4,500	4,900	5,100	4,500	5,100	5,200	4,800	4,900	4,900		+1.7%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
	Revenue/emp, $m	1.23	1.29	1.46	1.42	1.57	1.72	1.98	2.08	2.21	2.24		+6.9%	‡‡‡‡	‡‡‡‡	‡‡‡‡	‡‡‡‡
Income, $m
Income, $m	Revenue	5,170	5,815	7,143	7,224	7,078	8,790	10,276	9,995	10,847	10,967		+8.7%	10,839	10,945	11,864	+2.7%
	Gross margin, %	19.84	21.54	22.49	21.60	20.03	22.10	24.20	26.36	27.87	25.11		+5.3 pt	Powerpack Toll Brothers Inc.’s next three years, line by line Analysts expect revenue to grow 2.7% a year to 2028 — slower than the 8.7% of the last 9 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	589	814	934	787	587	1,100	1,704	1,842	2,086	1,791		+13.2%
	EBT margin, %	11.39	14.00	13.07	10.90	8.29	12.52	16.58	18.43	19.23	16.33		+4.9 pt
	Net income	382	535	748	590	447	834	1,287	1,372	1,571	1,346		+15.0%
	Depreciation	23	25	25	72	69	76	77	76	81	82		+15.1%
Per share, $
Per share, $	Revenue	30.72	35.85	47.00	49.82	54.40	70.83	88.00	90.85	104.64	110.80		+15.3%
	Earnings	2.27	3.30	4.92	4.07	3.43	6.72	11.02	12.47	15.16	13.60		+22.0%
	Cash flow	0.90	5.31	3.87	3.02	7.75	10.50	8.45	11.51	9.75	11.24		+32.4%
	Capex	(0.17)	(0.18)	(0.19)	(0.05)	(0.72)	0.11	(0.37)	(0.43)	(0.70)	(0.87)		+20.0%
	Free cash flow	0.73	5.13	3.68	2.97	7.03	10.61	8.08	11.08	9.05	10.37		+34.3%
	Book value	25.17	27.97	31.38	35.30	37.88	43.03	51.57	61.93	74.16	83.72		+14.3%
	Shares, m	168	162	152	145	130	124	117	110	104	99		(5.7%)
Valuation, ×
Valuation, ×	P/E	11.98	13.95	6.79	9.75	12.57	9.04	3.86	5.65	9.64	9.87		9.3
	P/S	0.89	1.28	0.72	0.80	0.80	0.86	0.49	0.78	1.40	1.22		0.9
	P/B	1.09	1.65	1.07	1.13	1.15	1.42	0.84	1.14	1.97	1.61		1.3
	EV/Sales	1.49	1.72	1.07	1.16	1.17	1.08	0.68	0.93	1.54	1.36		1.2
	EV/FCF	63.10	11.98	13.63	19.52	9.05	7.22	7.43	7.66	17.82	14.51		17.2
Cash, $m
Cash, $m	Operating cash flow	151	862	588	438	1,008	1,303	987	1,266	1,010	1,112		+24.9%
	Capex	(28)	(29)	(28)	(7)	(94)	14	(43)	(47)	(73)	(86)		+13.1%
	Free cash flow	122	833	560	430	914	1,317	943	1,220	938	1,026		+26.6%
Balance, $m
Balance, $m	Working capital	7,185	7,247	7,965	8,493	8,289	8,294	8,570	8,736	9,247	9,637		+3.3%
	Total debt	3,775	3,220	3,698	3,921	3,958	3,563	3,329	2,860	2,833	2,788		(3.3%)
	Net debt	3,110	2,507	2,516	2,635	2,587	1,925	1,983	1,560	1,530	1,529		(7.6%)
	Shareholders’ equity	4,235	4,537	4,769	5,119	4,927	5,340	6,022	6,813	7,687	8,286		+7.7%
Returns, %
Returns, %	ROA	4.03	5.58	7.60	5.60	4.08	7.38	10.80	11.06	12.14	9.66		+5.6 pt
	ROIC	4.19	5.74	6.75	5.49	4.58	8.78	11.78	12.87	13.84	10.96		+6.8 pt
	ROE	9.03	12.21	16.08	11.93	8.89	16.24	22.65	21.38	21.67	16.86		+7.8 pt

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Oct 2025 · latest quarter Jul 2026

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
DHI D.R. Horton, Inc.	$41.0B	13.9×	14.1×	+0.02% (above 0%: growing)	−4.75% (below 0%: shrinking)	−44.12% (below 0%: shrinking)	23.26%	12.52%	Compare
LEN.B Lennar Corporation	$38.8B	16.2×	—	−8.67% (below 0%: shrinking)	−48.03% (below 0%: shrinking)	+50.14% (above 0%: growing)	7.69%	5.97%	Compare
PHM PulteGroup, Inc.	$22.9B	12.7×	13.4×	−9.56% (below 0%: shrinking)	−18.36% (below 0%: shrinking)	−105.08% (below 0%: shrinking)	25.04%	15.53%	Compare
LEN Lennar Corporation	$20.3B	16.5×	17.9×	−8.67% (below 0%: shrinking)	−48.03% (below 0%: shrinking)	+50.14% (above 0%: growing)	7.69%	5.97%	Compare
NVR NVR, Inc.	$16.0B	14.7×	17.6×	−10.48% (below 0%: shrinking)	−23.46% (below 0%: shrinking)	−682.68% (below 0%: shrinking)	20.85%	14.17%	Compare
TOL Toll Brothers Inc.	$13.3B	11.7×	11.5×	−9.72% (below 0%: shrinking)	−20.74% (below 0%: shrinking)	−36.31% (below 0%: shrinking)	23.52%	13.51%
IBP Installed Building Products, Inc.	$5.6B	22.9×	24.3×	+2.30% (above 0%: growing)	−3.56% (below 0%: shrinking)	−30.95% (below 0%: shrinking)	33.29%	12.16%	Compare
SKY Champion Homes, Inc.	$4.4B	24.8×	24.4×	+1.27% (above 0%: growing)	−21.24% (below 0%: shrinking)	−4.47% (below 0%: shrinking)	25.24%	8.49%	Compare
CVCO Cavco Industries, Inc.	$4.2B	26.8×	27.5×	+9.54% (above 0%: growing)	−15.56% (below 0%: shrinking)	+5.65% (above 0%: growing)	22.07%	8.65%	Compare
Median of peers	$18.2B	16.4×	17.9×	−4.32%	−19.80%	−17.71%	22.67%	10.41%

All 19 Residential Construction stocks →

Pay and ownership Proxy statement filed 29 January 2026

Chief executive’s pay

Year	Total pay	Actually paid	$100 invested
2025	15.32m	17.82m	337.56
2024	16.47m	40.88m	363.18
2023	15.15m	28.76m	174.05
2022	11.24m	7.06m	104.66
2021	12.20m	18.79m	143.95

Ownership

Directors and executive officers, together 1.37%

BlackRock, Inc. 10.06%

The Vanguard Group 10.00%

Greenhaven Associates, Inc. 5.91%

Capital World Investors 5.51%

Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement